10:00 AM, 11th October 2022, About A year ago 5
Can someone please advise me whether a deed of variation for a will is our best option?
My mother-in-law died leaving her house worth approx £480,000 to my husband who was her only child. He would like to gift it jointly to our 2 sons who wish to live in it but is worried that if he dies within 7 years, they will have to pay IHT on it.
He thinks that if he gifts the house to me, his wife, and I then gift it to our sons, this would reduce the risk as he thinks I am more likely to survive the next 7 years than he is.
However, I wondered if it would be better to get a deed of variation for the will so that the house would go directly to our sons?
Any advice would be greatly appreciated.
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